By InvestAdvocate

Lagos (INVESTADVOCATE)- Both the Ekiti State Government and Chellarams Plc Friday announced the listing of Bonds worth N20.540 billion on the Daily Official List of the Nigerian Stock Exchange (NSE) in Lagos Nigeria.

The Ekiti State Government listed N20 Billion Fixed Rate Infrastructure Development Bond (December 8) 2018 of N1,000 each at Par under the N25 Billion Debt Issuance Programme admitted on the Daily Official List on Tuesday, March 13, 2012.

The Coupon rate is 14.5 percent (14.5%). “By this action, the number of listed State Government Bonds now stands at 12” the NSE said.

While Chellarams listed N540 Million Unsecured Floating Rate Bond 2019 of N1,000 each at Par Series 2 under the N5 Billion Medium Term Note Programme on Friday, March 16, 2012.

According to the Company, the Coupon rate is MPR + 5 (Minimum 13%, Maximum 19%). Since MPR is currently 12% then the coupon rate is 17%, which is paid Semi-annual – February 17 and August 17 each year, commencing August 17, 2012. The maturity date is February 17, 2019.

The Nigeria’s Exchange affirms by this action, the number of Corporate Bonds and Securities stand at 17 and 258, respectively.

Similarly, Pharmaceutical Giant, Neimeth International Pharmaceuticals Plc Friday announced the supplementary listing of 482,318,637 shares to the Daily Official List of the Nigeria’s Exchange; making the Company’s Issued Shares to hit 1.303, 895,353.

“The 482,318,637 shares in favour of Neimeth International Pharmaceuticals Plc were admitted on the Daily Official List on Friday, March 16, 2012 following the conclusion of the Rights Issue. By this action, the Issued Shares of the Company is now 1,303,895,353 shares” Neimeth said.

This is coming on the heels of a concluded Rights Issue which the Company said it recorded over 60 percent (60%) success.

The offer document had explained that Neimeth sought to increase its Authorised Share Capital from N750 million to N1.2 billion through the creation of 500 million Ordinary Shares of 50 kobo each.

On October 04 2011, Neimeth sought to raise N1.23 billion by way of a Rights Issue by offering to existing shareholders 821.577 million shares of 50 kobo each at N1.50 per share.

Meristem Securities Limited was Issuing House to the Offer which opened on October 04 and closed on November 21, 2011 after a seven (7) day extension.